The poor are becoming poorer and the rich richer

 

Statement by Haris Polycarpou, Member of the Economic Research Department of the C.C. of AKEL

AKEL C.C. Press Office, 30th January 2015, Nicosia

 

A recent study conducted by the Ministry of Finance concludes the obvious, namely that the crisis and the deterioration of economic activity in Cyprus have mainly affected the low income strata of our society, that the impact and costs of the crisis have not been distributed according to the financial capabilities of each and every person. On the contrary, while the poorest of our fellow citizens saw their incomes decline, the richest increased their share from society’s incomes.

The same study found that the main factors that led to the exacerbation of social conditions is the growth of poverty and unemployment, phenomena that have been aggravated as a result of the imposition of the Memorandum and the austerity policies enforced on society.

These findings should above all be utilized by the publishers of the relevant study and by those who daily are building up expectations and creating impressions among society that “everything is progressing well”.

As AKEL we insist on a change of course in the economy with policies that support development and a more equitable fair distribution of the country’s wealth; with policies that give a perspective to the young generation to work and provide opportunities for the assumption of economic initiatives to combat the flight and rush of working people leaving our homeland.